US stocks ended modestly lower after a volatile session on
Friday, having bounced between gains and losses as investors wrestled with the
likely timing of a US interest rate hike following comments from top Federal
Reserve officials
The S&P 500 rose as much as 0.7 percent and declined by as much as 0.6 percent during the session.
The S&P 500 rose as much as 0.7 percent and declined by as much as 0.6 percent during the session.
Banking shares, which stand to gain in a higher rate
environment, advanced. The KBW Nasdaq bank index .BKX rose 0.74 percent. In
contrast, sectors likely to be hurt by higher rates, such as utilities and
telecoms, fell.
Declining issues outnumbered advancing ones on the NYSE by a 1.49-to-1 ratio; on Nasdaq, a 1.12-to-1 ratio favored decliners. The S&P 500 posted 29 new 52-week highs and one new low; the Nasdaq Composite recorded 118 new highs and 26 new lows.
Declining issues outnumbered advancing ones on the NYSE by a 1.49-to-1 ratio; on Nasdaq, a 1.12-to-1 ratio favored decliners. The S&P 500 posted 29 new 52-week highs and one new low; the Nasdaq Composite recorded 118 new highs and 26 new lows.
